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Light Risk Aversion Creeps In

FOREX

Light risk-off flows have taken hold in G10 FX space amid a downtick in U.S. e-mini futures, with latest headline flow offering little to alter the familiar picture.

  • Risk aversion has allowed the yen to breathe a sigh of relief after an impressive, well-documented run higher in USD/JPY. The pair has shed nearly 50 pips thus far, moving away from multi-year highs.
  • Datawise, final U.S. Uni. of Mich. Sentiment, German Ifo Survey & UK retail sales take focus from here. Speeches are due from Fed's Williams, Daly, Barkin & Waller, BoC's Kozicki & Norges Bank's Bache.

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